Endogenous growth and wave-like business fluctuations

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Endogenous growth and wave-like business fluctuations

This paper argues that observed long lags in innovation implementation rationalize Schumpeter's statement that “wave-like fluctuations in business ... are the form economic development takes in the era of capitalism.” Adding implementation delays to an otherwise standard endogenous growth model...

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Bibliographic Details
Main Authors:	Bambi, Mauro, Gozzi, Fausto, Licandro, Omar
Format:	Article
Published:	Elsevier 2014
Subjects:	Endogenous growth; Endogenous fluctuations; Innovation cycles; Time delays; Medium-term cycles; Hopf bifurcation
Online Access:	https://eprints.nottingham.ac.uk/34424/

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